Buyers Lachlan and Anna Sleeman bought this Nundah home at a no reserve auction.
A southeast Queensland home has sold for $1.5325m at a no reserve auction which attracted 33 registered bidders and a huge crowd of onlookers.
The property, in Nundah on Brisbane’s northside, included a three-bedroom two-bathroom character home on an 820sq m block.
The auction kicked off with a $1000 opening bid, which auctioneer Haesley Cush said: “we’re away, we’re on the market”.
316 Buckland Road, Nundah.
The bidding quickly moved up to $1m and onwards to the final sale price of $1.5325m.
Buyers Lachlan and Anna Sleeman have been living in Bali for the last five years.
“We only moved back to Brisbane for our daughter’s education and a new business opportunity,” said Mr Sleeman, who is an entrepreneur in the hospitality industry.
“We had been looking everywhere from the Sunshine Coast to Brisbane which is where we are looking to establish a new business.
“We had been looking at a property in Kedron and it was an old Queenslander too.
“It was very nice and everything but it needed as much work as this property now but the no-reserve auction just felt very clean.”
Ray White Clayfield’s Nick Kourparitsi with buyers Lachlan and Anna Sleeman.
316 Buckland Road, Nundah.
He said it was an exciting auction.
“I was actually sitting next to the under bidder and I showed him how high I would do and then he dropped off.”
“This will be our family home and we can add value to this house in Nundah.
“It’s a great spot.”
PropTrack data reveals the median house price in Nundah is $1.3125m, up 14.1 per cent over 12 months.
Mr Sleeman, originally from Melbourne, said Brisbane had really come of age.
“We were always coming back to Brisbane, as it’s got such a great lifestyle and great food scene,” he said.
“Brisbane is the place to be.”
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316 Buckland Road, Nundah.
The property was on the market with Ray White Clayfield’s Nick Kouparitsis.
“We had 31 registered bidders, with five on the phone,” Mr Kouparitsis said
“There were 128 groups of interested parties who came through the property over three weeks. “Interest came from all over town, with most buyers being local but from out of the immediate area,” Mr Kouparitsis said.
“The buyers were a mix of both family owner-occupiers and investors.
“Some investors were looking to land bank. Other interested parties included builders and those looking to do a development, though the character zoning was restrictive.”
Mr Kouparitsis used a “no reserve” auction strategy and said he would definitely do it again.
“This strategy has its merits and it definitely works to create competition,” he said.
Ray White Collective business owner and auctioneer Haesley Cush said he was ecstatic to see the seller get such a great result after putting his faith in the market and going with a no reserve auction.
The no reserve auction was held at the packed Ray White Collective auction event at The Calile Hotel over the weekend with more than $47.5m in property sold as part of the event.
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